Did you know that more than 500,000 devices are taking care of your health? MedTech: a booming market
MedTech is present since the beginnings
The medical technology (MedTech) has been with us even before we were born. We talk from pregnancy tests to ultrasounds. If you broke your knee as a child, you wore a cast. If your vision became blurred, you wore glasses.
Medical and diagnostic devices help professionals get patients back to health as soon as possible. Even though we may not realize the presence of these technologies at first sight, they are always there to save our lives or to improve them.
The MedTech is one of the areas of Health Sciences that has been in full swing for more than 10 years. It is based on technology to obtain greater efficiency and quality in diagnosis results, prognosis and treatment of diseases and ailments. Furthermore, medical devices are products, services or solutions that prevent, diagnose, monitor, treat and care for human beings. Today there are more than 500,000 medical technologies available in hospitals, health centers and at home.
MedTech market: rising since the past 10 years.
The latest Evaluate Medtech report launches its market forecasts. The growth to date is fascinating: 363% in the value of mergers completed in the first half of 2018 compared to the same period last year. The situation is expected to get more interesting. According to the forecasts offered in the report, the annual growth of the technology market could reach 514 billion dollars in 2020.
Technology for the diagnosis and prevention of diseases
In Spain, cardiovascular diseases lead mortality. However, the Spanish Heart Foundation notes that in the last 30 years cardiovascular mortality in Western countries has been reduced by 300%, i.e., a success. The keys to this decrease are estimated to be 40% due to diagnosis and treatment and 60% due to changes in lifestyles and the knowledge and control of risk factors.
Clear and obvious progress
Technology has improved the daily work of our health professionals, both their productivity and the quality of their work. This is the case of Xolomon, which allows us to provide personalized solutions in the field of clinical research and biomedicine.
Regarding the progress made in diagnosis, it is worth noting that thanks to technological development, better and earlier assessments can be made.
100 years ago, it was unthinkable to use MRI, scanners, or wireless defibrillators. Twenty years ago, we could not imagine that an application could perform urine tests with a simple photo, that a PDA for autistic people could function as a “personal work coach,” or that a scanner could allow breast cancer to be seen in three dimensions. These examples demonstrate the great importance of the development of medical technology.
Specific technological solutions for real problems
A solution like Oscann from the company AURA Commited Medtech allows to diagnose and help the medical professional to significantly improve the quality of their medical assessments, in early stages of different neurological and mental diseases.
Fellow Funders is convinced that MedTech market will continue growing in the coming years, due to the life expectancy increase (chronic diseases are increasing year by year), the development of new technologies related to imaging and process efficiency (Artificial Intelligence). For this reason, both AURA and XOLOMON are very interesting opportunities that you have available in Fellow Funders Projects. Do not hesitate, investing in MedTEch is a very healthy opportunity.